Provides corporation business tax credit for certain investment in manufacturing equipment and manufacturing facility renovation, modernization, and expansion, or hiring and training of new employees for manufacturing purposes.

This New Jersey bill provides a 10% tax credit for businesses that invest in manufacturing equipment, renovate or expand facilities, or hire and train new employees within designated Smart Growth Areas. It directly affects manufacturers operating in specific growth zones, such as urban enterprise zones or transit villages, by reducing their corporation business tax liability. The credit covers 10% of costs for new equipment, facility improvements, or hiring/training (with employees retained for 365 days), but cannot exceed 50% of the tax owed. Unused credits may be carried forward for up to seven years. The bill prohibits using this credit alongside other existing tax credits for the same expenses.